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Analysis of different approaches through there definition and emphasizes on their advantages and disadvantages to give away the path on how to utilize them to solve a problem. Locusts swarm has been a major problem for many countries especially agricultural sector in those nations. This issue needs a permanent solution because it has been impacting the food supply of different developing countries. The report will discuss three approaches that are system thinking approach, the first principle of economics and evaluation concepts. The approaches would be analysed along with their pros/cons and would be implemented on the case study regarding how to solve the locusts issue permanently.
System Thinking Approach:
The systems thinking approach has been described as “systems thinking as the art and science of making reliable inferences about behaviour by developing an increasingly deep understanding of underlying structure” (Agresti, 2006). In other words, system thinking is the procedure of considering how different components impact each other. Systems thinking has been a new approach to help individuals in every sector to solve a problem observing different components to work as one.
The First Principle of Economics:
The first principles in economics includes Scarcity forces trade-offs, Opportunity Costs, Rational people make choices at the margin and People respond to incentives. Trade-off is a circumstance that includes the loss of one aspect of some product in return of attaining some other quality product (Fischer, 2017). Scarcity means limited resources which forces the individuals to give up a quality aspect for another. Opportunity costs refers to the attainment of the next best alternative and the third principle refers to minor incremental alterations to a plan. The last principle is described as the comparison of cost and benefits while making a decision about something that is that people respond to incentives (Quddus & Horton, 2002).
Evaluation Concept:
The evaluation concept includes to place a worth on tangible things, it also entails to motivate the reallocation of resources along with cost benefit analysis (Sage Publications, 2019). Evaluation concepts includes:
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